When economists refer to "demand," they are speaking of<u> a schedule of amounts of a product that buyers would purchase at alternative prices in a given time period.</u>
The available options are:
a. can indorse the check either "Bethany Lewis" or "Bethanie Louis."
b. will need to ask the drawer to send her a new check.
c. will not be able to cash the check.
d. must use a restrictive indorsement to cash the check.
Answer:
a. can indorse the check either "Bethany Lewis" or "Bethanie Louis."
Explanation:
When it comes to financial related matters, most specifically, on the issue of cheque, Indorsement is a financial related term that describes a legal signature, (often signed at the back of a cheque), which serves as a form of approval, to ensure the cheque is payable to individual aside the designated payee.
Hence, in this case, Bethany Lewis can indorse the check either "Bethany Lewis" or "Bethanie Louis."
Answer:
(B) Post-closing trial balance
Explanation:
after the closing entries, the temporary accounts are closed. It will only disclosure the permanent accounts, which are the assets, liabilities and equity of the business.
The unadjusted TB will be before adjusting entries and closing entries.
The adjusted TB will be before the closing entries, it wil include both, temporary and permanent accounts
The worksheet is an auxiliary paper to create the financial statements.
The general ledger compiles each account balance and transaction related to each account to determiante this balance.
Answer:
The merchandise should be reported on the U.S. Company's December 31, 2020 balance sheet at:
b. $1,050
Explanation:
a) Data and Calculations:
November 30, 2020 Inventory purchase = CHF1,000
Exchange rate on this date = $1.05/CHF
Inventory worth = $1.05 * CHF1,000 = $1,050
b) The inventory should be reported on December 31, 2020 at $1,050. It does not need to be reported at a value above or below this. Even, the debt owed to the Swiss supplier will be reported at this price. It is when payment for the invoice is being made on February 1, 2021 that consideration will be given to the exchange rate at which payment is made.
